Deutsche Bank says it's facing around 1,000 lawsuits

Justice Scales

That's a big number.

Deutsche Bank gave shareholders a sense of the size of its legal and regulatory problems on Thursday, when it said it faced around 1,000 major lawsuits.

Reuters reports that Stefan Krause, the bank's finance chief, said that the bank had paid around $478m in legal advisory fees in 2013 alone as the bank works to free itself from investigations and lawsuits that have followed the financial crisis.

'We are involved currently in around 1,000 suits that have a value of over 100,000 (euros)', Krause told shareholders at the bank's annual general meeting. He said the total number of lawsuits was more than 6,000.

'We are expecting continued headwinds from legal matters'.

To access the complete Reuters article hit the link below:

Deutsche Bank says faces around 1,000 big lawsuits

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